SPX6900 (SPX) is 4780.1× the size of DESU (DESU) by market capitalisation. Over the past 30 days, DESU is ahead by 14.2 percentage points (DESU -8.3% against SPX -22.5%). Their daily returns move barely together (correlation 0.16 across 22 shared trading days). Both have run at a similar volatility, around 112% annualised.
DESUSPX
0.16over 22 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | DESU | SPX |
|---|---|---|
| Max drawdown (400d) | -31.7% | -42.9% |
| Risk-adjusted return (90d) | -0.07 | 0.16 |
Relative strength over 90 days: DESU outperformed SPX by 2.4% — measured on the DESU/SPX ratio, so it holds regardless of market direction.